Western Midstream Partners, LP (WES) Financial Statements
Industry: Natural Gas Transmission
In fiscal 2025, Western Midstream Partners reported revenue of $3.84B, up 6.6% from $3.61B the year before. Net income was $1.18B (a 30.7% net margin). Gross margin was 39.7% and operating margin was 41.7%. Operating activities generated $2.22B of cash. At fiscal year end, Western Midstream Partners held $15.00B in total assets against $10.84B in total liabilities, including $819.5M of cash and equivalents.
Open the full interactive Western Midstream Partners financials → Quarterly statements, key ratios, valuation history and price charts.
Western Midstream Partners Key Stats
| Share Price | $45.32 |
|---|---|
| Revenue YoY Growth | +6.6% |
| 52-Week Range | $34.21 – $49.80 |
Western Midstream Partners Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.77B | $2.88B | $3.25B | $3.11B | $3.61B | $3.84B |
| Cost of Goods Sold | $2.13B | $1.75B | $1.95B | $1.87B | $2.04B | $2.32B |
| Gross Profit | $643.5M | $1.13B | $1.30B | $1.24B | $1.56B | $1.53B |
| Operating Income | $878.9M | $1.34B | $1.59B | $1.38B | $1.97B | $1.60B |
| Pre-Tax Income | $522.9M | $934.2M | $1.26B | $1.05B | $1.63B | $1.23B |
| Income Tax | $6.0M | -$9.8M | $4.2M | $4.4M | $18.1M | $15.1M |
| Net Income | $527.0M | $916.3M | $1.22B | $1.02B | $1.57B | $1.18B |
Western Midstream Partners Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $952.5M | $1.03B | $1.12B | $1.22B |
| Net Income | $339.6M | $190.7M | $350.3M | $403.6M |
Western Midstream Partners Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $444.9M | $202.0M | $286.7M | $272.8M | $1.09B | $819.5M |
| Current Assets | $943.1M | $684.8M | $900.4M | $992.4M | $1.85B | $1.66B |
| Total Assets | $11.83B | $11.27B | $11.27B | $12.47B | $13.14B | $15.00B |
| Current Liabilities | $960.9M | $1.14B | $903.9M | $1.30B | $1.69B | $1.24B |
| Total Long-Term Debt | $7.85B | $6.91B | $6.79B | $7.90B | $7.94B | $8.64B |
| Total Liabilities | $8.93B | $8.18B | $8.16B | $9.44B | $9.77B | $10.84B |
| Shareholders' Equity | $2.90B | $3.10B | $3.11B | $3.03B | $3.38B | $4.16B |
Western Midstream Partners Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.64B | $1.77B | $1.70B | $1.66B | $2.14B | $2.22B |
| Cash From Investing | -$448.3M | -$257.5M | -$218.2M | -$1.61B | -$39.2M | -$1.09B |
| Cash From Financing | -$844.2M | -$1.75B | -$1.40B | -$67.9M | -$1.28B | -$1.41B |
| Dividends Paid | $695.8M | $533.8M | $735.8M | $978.4M | $1.25B | $1.43B |
Figures from Western Midstream Partners' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Western Midstream Partners financials page for every line item.
Western Midstream Partners Company Profile
| Ticker | WES |
|---|---|
| Exchange | NYSE |
| Industry | Natural Gas Transmission |
| Headquarters | The Woodlands, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001423902 |
Frequently Asked Questions
What was Western Midstream Partners' revenue in fiscal 2025?
Western Midstream Partners (WES) reported revenue of $3.84B for fiscal 2025.
What is Western Midstream Partners' annual revenue history?
Western Midstream Partners' annual revenue by fiscal year: 2020: $2.77B; 2021: $2.88B; 2022: $3.25B; 2023: $3.11B; 2024: $3.61B; 2025: $3.84B.
What was Western Midstream Partners' net income in fiscal 2025?
Western Midstream Partners reported net income of $1.18B for fiscal 2025.
What was Western Midstream Partners' revenue last quarter?
In its most recent reported quarter (2026 Q2), Western Midstream Partners reported revenue of $1.22B.
How much debt does Western Midstream Partners have?
Western Midstream Partners reported $8.64B of long-term debt, including the current portion, at the end of fiscal 2025.
When does Western Midstream Partners' fiscal year end?
Western Midstream Partners' fiscal year end, as registered with the SEC, is December 31.
Where is Western Midstream Partners headquartered?
Western Midstream Partners lists its business address in The Woodlands, Texas in its SEC filings.